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Wednesday, 28 April 10
DRY BULK MARKET
 After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Index (BDI) rose yesterday by more than 6% on a daily basis to 3,203 points, with analysts unanimous that stronger iron ore demand from China was the key reason. The BDI now stands at its highest level in more than one month, while reports said yesterday that smaller Chinese steel mills began buying iron ore at quarterly prices agreed by Japan and South Korea, in a move that effectively ends the old benchmark system.
In its weekly report, shipbroker BRS (Barry Rogliano Salles) said that South Africa’s Richards Bay terminal confirmed a sharp rise in Asian exports, which rose to 42% of total shipments in the first quarter of this year, up from 25% a year earlier – due mainly to Chinese and Indian demand.
In Europe, Thyssenkrupp became the first European buyer to confirm it had agreed an iron ore price on a quarterly basis. In line with the Japanese contracts, it also reported a 100% price increase, back-dated to April 1. Commenting on the capesize market prospects, BRS said that the market will continue to watch what impact the new, higher commodity prices will have on demand.
According to brokers quoted by Reuters, high congestion at Brazilian ports had also helped drive rates higher, especially for the larger capesize ships. They added that freight derivatives contract buying had added to the positive momentum. Andrew Dawson, a broker with Freight Investor Services was quoted by the agency saying that "it seems to be a combination of a lack of vessels in the Atlantic and also increased demand from the Chinese. It's iron ore that has driven this push." As a result, capesize vessels, typically the main haulers of iron ore were the principal gainers from yesterday’s upward push in the market. Average earnings rose to $35,109, according to the Baltic Exchange.
In a separate report, JP Morgan Chase & Co. raised its previous estimates on global demand for dry bulk commodities, saying that it will expand by 6 percent in 2010, versus its previous forecast of 3.7 percent. On a similar note, JP Morgan said that it expects iron ore trade growth to reach 11.2%, from an earlier prediction of 5.7%, while coal demand will expand by 5.7%, up from the previous estimate of 3.8%. In other words, the investment bank almost doubled its estimates on global dry bulk trade growth, in what could be translated as a pretty strong sign of the industry’s ability to leap out from the crisis and also face with very increased chances the issue of tonnage oversupply.
On that matter, JP Morgan commented that the increased trade will coincide with half the ships that are scheduled to be built this year being delayed or cancelled, as yards in Asia fail to deliver a record order book on time. “We do not believe that it is even physically possible for the shipyards to meet this robust schedule, with or without financing concerns,” said the report, quoted by Bloomberg.
JPMorgan increased its forecasts for what ships will earn as a result by as much as 33 percent. Panamax ships, the largest to sail through the Panama Canal, will average $21,200 a day this year, up from a previous forecast of $16,000, JPMorgan said. Rates for capesizes, were revised up 3.1 percent to $33,000 a day; supramaxes were increased 22 percent to $17,100 a day, and handymaxes will make $14,700, compared with a prior estimate of $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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